Polycrystalline diamond cutter drill bits take on several different forms. The cutter assembly usually is in the form of a cylindrical stud having a polycrystalline diamond cutter disc or wafer applied to the forward end thereof, so that the outermost face of the diamond material engages the formation during the drilling operation. The diamond cutter disc gradually becomes worn as evidenced by a flat or crescent shaped portion thereof progressively being worn away. The unworn part of the disc represents more than 80% of the circumference thereof left in usable condition, but nevertheless, a new unworn edge of the disc must be presented to the formation in order to achieve suitable penetration efficiency of the bit. This usually requires replacement of the entire stud assembly.
Others skilled in the art have proposed heating the bit body, removing the stud assembly, rotating the stud assembly between 45.degree.-180.degree., and reattaching the assembly to the bit body, thereby avoiding the purchase of a new stud assembly. Others have proposed to remove the stud assembly, remove the polycrystalline diamond cutter disc therefrom, reattach the disc to a new stud, and replace the stud within the bit face.
Heretofore, the simple expedient of rotating a diamond stud assembly 45.degree.-180.degree. respective to the bit body has involved a considerable amount of equipment, time, and cost. It would, therefore, be desirable to be able to rotate the diamond stud assembly respective to the bit body with a minimum of equipment and effort so as to place the bit in like new condition with a minimum of time and expense. Such a desirable mechanical operation is the subject of the present invention.